Hendry, who broke a 14-year drought for New Zealanders when he won the Open in a playoff last year, is back to try to become the first player to successfully defend the Open title in more than 30 years.
But he is not riding much momentum into the tournament which starts today at Millbrook and The Hills.
''To be honest, my form has not been very good thus far this year. I feel though I have probably played better than my results. I have probably had the rough end of the weather this time,'' he said.
''So maybe I have not played as poorly as my results have said. I have been working particularly hard to turn my form around.''
Hendry has missed the cut in three of his five tournaments this year, although he had an encouraging top-20 finish at the NZ PGA last weekend.
Hendry (38) said as defending champion he was taking the approach that as it was a new year, he was starting over.
''I suppose it [being defending champion] takes a certain amount of pressure off. I do not have to prove anything to anyone that I can win the event. Obviously, I want more than anything in the world to win it again. I have done pretty well defending golf tournaments ... it is amazing when you haven't been playing your best what memories and good thoughts can do.''
He said past form often had no bearing on results and confidence levels changes all the time.
''I did have quite a lot of confidence going into last year. I remember in 2012 when I came here and won the PGA, I got disqualified the week before for a rules breach and my confidence was really low. But I found something on the practice range and went from there.''
The Auckland-based golfer said the key to winning was putting although the weather may play a part.
His putting is not particularly good at the moment but there are glimpses of form.
''I have been pulling eight to 10-hour days to try and get myself sorted. Sometimes you can do too much. There is a fine balance between getting prepared and working yourself to the pulp.''
He has been looking at changing shafts and balls to combat the heavy spin he hits on the ball but had in the end made minimal changes.
Hendry said he was not a superstitious player and would not be sticking to any routine he tried last year.
Corey Pavin is the most recent player to win the tournament back to back in the mid-1980s.
Hendry will start today playing with Brad Kennedy, the Australian he beat in the playoff last year.
Traditionally, the winner has to hit near on 20-under to win but the weather - rain is in the forecast - may have a bearing on the result.
The course is in good condition considering summer Arrowtown has enjoyed - a drought followed by heavy rain.
Queenstown resident Ben Campbell is in good form but there is a strong Australian challenge with Australian Open champion Cameron Davis lining up along with 2016 winner Matthew Griffin.
Top South Korean KJ Choi is competing in the Open for the first time and has plenty of experience to steer himself around the courses.
He has been out walking the fairways for the past few days and said he found the courses to his liking.
Young Queenstown amateur Fraser MacLachlan starts early today, first to tee off at The Hills at 7.30am.
